YORKSHIRE LETTER

Dominion, Volume 14, Issue 8, 5 October 1920, Page 10

YORKSHIRE LETTER

THE NEW CLIP

OUTLOOK FOR MARKETING

(From Our Special Correspondent.)

_ London, August 19. A goou Seal of interest is .already being shown in tho approaching Australian new cup, nnd the fact that sales are already fixed to open in October in Sydney is evidence of the preparations which are being made throughout the colonits for its disposal. We believe that the last auctions took place towards the end of 1914, or at least they ceased early in 191,1, bonce the natural desiro on the part of both growers and selling brokers to get back with all possible speed to pre-war conditions. A certain section of tho trade at this end is equally as keen to ece tho Australian auctions begin, and we could never see any wisdom in the London Importers' Committee's suggestion. that the forthcoming n.jw clip should be all consigned to London for sale. That wos found to be as objectionable to the Australian end of tho trado as tho suggestion oT Mr! Hugh'es that London should close from Septembor 30 to tho end of next March. Both sections of tho trade aro too far apart in their views for any working ngreement to be arrived at so* far as tho sale of colonial wools is concerned, and whatever happens, we aro confident that Australian auctions will tale place and the wool be sold to the utmost possible advance, both regards quantity and price. We aro in a position to say that already fair Quantities of new clip Australian wools have been purchased privately .on Bradford account botff at Brisbane and Sydney, or three of the largest importina tonmaiters having already 6old forward fair quantities of M's tops on a most reasonable basis, and aro now busily engaged in arranging shipment. Thero Is real earnestness on tho part of growers to meet the market, nnd anything approaching last year's appraisement prices will find the majority disposed to cell. We think there is wisdom in. this, nnd importing topmakers can buy and sell in Bradford to-day nt a profit If they will only tackle' tho thing in a- businesslike way. We are able to say that good average fii's tops have been sold for next January delivery on a 6s. basis and some affirm a trifle under. This menni) that tops are going to bo placed in tho hands of spinners at most reasonable prices, faciiitatinj business but certainly paving the way for a much lower level of values, both in yarns and pieces. Tho writer is convinced that trade is not "down and out": very far from it, the entire textile world simply seeking a lower and much more common-scnso level of values on which to shape a new. season's trade. It can now be taken for granted that the recent boom Ifl over, and the mnjoritv are to-dny feeling that it would have been a real good thing if it had never occurred. Big profits have no doubt been made, but equally as big lossw are now having to bo encountered, and nnyone having stocks of either wool or tops purchased during the first ton weeks of this year and which remain unsold are faced with colossal losses. The Question of Freight. A good deal of unnecessary attention seems to bo devoted at tho present time to the question of freights, and we are not among those who think that it will not be available. The writer has maintained all along that tho Imperial Government, notwithstanding it has its hand upon colonial freights, will never exercise, its option by commandeering all chipping space, and we are confident that tlioso operating in Australia will bo able to secure a reasonable amount ol freight. In fact, wo are in a position to say that the Government has undertaken to guarantee a reasonable shipping space, and rates for those operating in Australia. Wo certainly think that this is a good move on tho part of the Imperial Government, causing both sellers and buyers to feel comfortable, for any attempt at monopoly would havo led to serious trouble in more ways than one. Of course, the Imperial Government will require considerable Bpace to bring Home their liugo stocks of raw material, lut it can bo taken for granted that some reasonable and equitablo arrangement} are practically completed for facilitating the bringing Homo of wool purchases, both private and St&te-owned. It is also significant thiu, the head of tho wool department of the Government has stated thatit is not intended to 'bring Home wciil any faster than circumstances demand, in which caso the cutlook is very favouiablo for those purchasing the raw material in Australian selling centres, and bringing it Home to manufacture areaa. Cheap Contracts, As indicated above, there aro al reM V fi-cnCuiWomo (*au>oarthX«t who \ pared to risk a good deal over the future, and the fact that there have been sales, of 64's tops at Gs. means a good auU more than appears on papcr.v Wo aw reliably informed that even less than Gs, has been taken, so tew aro prepared to havo a flutter, m risk taken appears to us to be fairly reasonable in view of the P prospective stocks of Go f n,m f^® 1 d wool. Where thero is a cleavage o£ >pm ion is in regard to p T™ V °iS££ of good combing wool, and, s!> >- " eT , n .f classes'. ' clie drougnt has left a <jis tinct mark upon the forthcoming new clio samples which have arrived this last'mail showing distinctly tho comparative weakness of staple as well &s Kof length. A drought always results in a superfine fibre and. a loss of length nnd soundness. This class of Taw mateiial may suit the Schlumberger comb, \ ■ i. : s 'larnely used on the Continent, bu it meets Bradford's requ.rcmonte. and everything indicate> a m«J shorter and inferior clip, lhat ib ino wool which no doubt will P^ Bonable priced tops, but as to ■will meet the requirements of. spinners nnd lead to a successful seasons trade remain to be seen. What everybo<£ fcla is that good war? merinos are going to remain at a premium and therefor topinakers with ft reputation to .cm aro not prepared to-day to sell to"™" any weights of this class of top under U is« CnciQ Such toos could not be made out of' won! sold at the hist Tendon and Liverpol sales at less than 10s., therefore, tho selling forward of warp merino lops does not exist to-day.

Tops and Flocks. According to the Board of Trade returns 8,:C0.0001b. of wool tops and wool flocks were exported last month, nmj ft -hy in the world wool flocks should be scheduled with wool tops is: pnst; tho comprehension of any practical mn the trado. To a large number it is laughable wi the .extreme and ono might as well put pigeon with wool tops as docks. It just shows w'lunt officials knowof actual trading condifcons, and who fits in with tho practical side of the wpol textile indiiotrv, because wool flocks me a totally different thing from tops, being used in "entirely different trades Mocks aro simply short-wool fibres that cither specially made or produced bj the milling machine, and wo sliouldW that more "milling flocks are made and sola for mattress purposes than oi ythiny else, but nobody in the trade would ever think of usrng wool tops for the same purpose M wool flocks. If the Board orf /irnde retuniß, at lenflt eo far > as.descriptions are conccrned, were left in tho hands of, say three or four practical iwen, there would not then lie such ridiculous anomalies ns pointed out above.

Prospects in the Woollen Trade,

It is nothing- less than staggering to fhn members of the West Kiding Industry to be told that i 5.000 looms belonging to one leading corporation in the United States nro standing. The writer Has been connected with the West Hiding industry for the past thirty yours, and during that time lias never known a single mill close down indefinitely. Such a course of action is entirely unknown in this country, tlio method of operating' in slack times bdng to work short timo, or allow a cortain proportion of operatives to "play" one or two 'weeks, but mills nre never closed indefililely. Such a coureo of action helps to keep the efficiency o? the mills at a fairly lii?h standard, and American mills must Buffer on this head. Every practical man knowß how Imperative it is to keep regular hands working year in and year out. At fcho present timo mills (ire boirg run full time, and although the outlook is far from good, yet the majority have faith, in the future.